Page 12 - GLNG Week 49

GLNG
NEWS IN BRIEF
GLNG
interested in entering into long-term deals in the future.
“We are well-positioned in China and India,” he said. “We have great relationships with Qatar, it is a leading shareholder in Glencore, that leads to a lot of co-operation.”
Arentz’s comments come as the commoditisation of LNG continues, though the process has not yet been completed.
Chinese buyers offer to
resell LNG cargoes on weak
demand
Chinese companies are reportedly offering to resell LNG cargoes on the spot market, according to trade sources cited by Reuters this week. The push to resell cargoes comes as Chinese companies are faced with high inventory and weak demand owing to a slowing economy and a milder than usual winter.
“It’s quite warm in China and the demand is very bad,” one of the sources – who works for a state-owned company – was reported as saying.
According to the source, 5-7 LNG cargoes are being offered for resale in a month, though Reuters noted that this could not be independently verified. Further details were also not immediately available but the news service cited its sources as saying that China National Offshore Oil Corp. (CNOOC) has been the main company to offer cargoes for re-sale.
While this has not been confirmed, the sources said that CNOOC had sold at least one cargo to a Japanese buyer thus far.
China does not release official information on its LNG storage volumes but Reuters cited shipping data from Refinitiv Eikon, which
showed that the country had imported the second highest monthly volumes of LNG for the year in November.
Qatargas delivers 2,000th LNG cargo to India
Qatargas has successfully delivered the 2,000th LNG cargo to India, which the company described as a “historic milestone”.
“We are delighted to reach this historic milestone in our relationship with India
with whom we have established a strong partnership since July 1999,” Qatargas’ CEO, Sheikh Khalid bin Khalifa al-Thani, said. “India is a key market for Qatargas given its geographical proximity and growth potential,” he added.
“As India continues to make big strides towards achieving its ambitious target of 15% natural gas in the country’s overall energy mix, we are committed to extending all possible support by reliable delivery of this clean fuel,” al-Thani continued. “As the world’s premier LNG company, Qatargas continues to play a major role in ensuring energy security for countries across the globe.”
The cargo was transported on board the Aseem, a conventional LNG vessel with
a capacity of 155,000 cubic metres. It was loaded at the Ras Laffan Port on November 17 and delivered to India’s Dahej LNG terminal in Gujarat State, which is owned and operated by Petronet LNG.
Qatargas has a 25-year long-term free-on- board (FOB) sale and purchase agreement (SPA) in place with Petronet. The Qatari company loads around 116 cargoes per year
to India under this deal, as well as supplying volumes into the short-term and spot markets.
In March 2019, the company supplied the commissioning LNG cargo to Ennore, India’s
newest LNG receiving terminal, located near the southern Indian city of Chennai.
EUROPE
Alpha Adriatic, ETCA
Caspian disband Croatian
LNG joint venture
Croatia’s Alpha Adriatic and Cyprus’ ETCA Caspian have opted to disband their LNG joint venture, known as Uljanik Plovidba LNG.
Alpha Adriatic, which was previously named Uljanik Plovidba, reported the disbanding of the Uljanik Plovidba LNG unit in a filing with the Zagreb Stock Exchange (ZSE) on December 9.
According to the filing, the company ceased to exist when the Pazin Commercial Court took a decision on December 6 to remove Pula-based Uljanik Plovidba LNG from the court register.
The company’s two founders and owners – Alpha Adriatic and ETCA Caspian – requested to disband the venture after failing to fulfil their plan for joint investment in natural gas projects.
Uljanik Plovidba LNG was established in April 2017 as a 50:50 joint venture between Alpha Adriatic and ETCA Caspian, with a focus on sea transport and storage of LNG.
GTT notified by Hudong- Zhonghua Shipbuilding (Group) for the tank design of an LNG bunker vessel for Mitsui OSK Line
GTT has received an order from the Chinese shipyard Hudong-Zhonghua for the tank design of an LNG bunker vessel on behalf of the Japanese ship-owner Mitsui OSK Lines Ltd. (MOL).
GTT will design the tanks of the vessel, which will be fitted with the Mark III membrane containment system, a technology developed by GTT. The vessel will offer a total cargo tank capacity of 18,600 m3. The unit will be operated by the ship-owner MOL and chartered by Total. Its delivery is planned during the fourth quarter of 2021.
Philippe Berterottière, chairman and CEO
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Week 49 12•December•2019